The wage and welfare bond provides guaranteed payment
from the union dues and other benefits to the member
of the union. This bond is also called as union wage
bond. Each union will have a separate and specified
application form. This wage and welfare bonds are used,
when the principal fails pay the union dues within a
specified time period. With the help of this bond the
union files the claim and the collect the dues. In our
bonding companies we are ready to write to this wage
and welfare bond at different rates. Since these bonds
are more complicated to place than a typical commercial
bond, you have to find an agency that specializes in
bonding. Many financial guarantee bonds are no longer
being written due to their heavy losses except wage
& welfare bonds.